Salem Five Financials
For nearly 170 years, Salem Five has maintained a commitment to stability and security while meeting the complex financial needs of families and businesses throughout New England.
What You Need
to Know
Salem Five is owned and operated for the benefit of its customers. As an FDIC insured mutual bank with no stockholders, we’re accountable to our customers, employees, and communities.
Mutual banks are a stable influence in local markets because most of our customers, both commercial and consumer, live and do business in our community. Since we’re not publicly held and have no stockholders, we can make business decisions with a long-term perspective, building mutually beneficial relationships and maintaining a great degree of flexibility. This charter of mutuality creates and nurtures our customer focused approach in all we do.
"As a mutual bank with no stockholders, we strive to improve each year and grow the organization to better serve consumers, businesses and communities in the region. The Bank will continue to put customers' needs first, continue to hire best-in-class-talent, and invest in technology to accomplish our mission."
- Ping Yin Chai, President & CEO
